Aon Pulls Company Stock From 401(k) Plan

In a Form 11-K filing with the Securities and Exchange Commission
(SEC), Aon plc announced the divestment of company stock from the Aon
Savings Plan.

According to the filing,
effective April 1, the Aon Stock Fund was discontinued as an active
investment option in the plan. After March 31, participants were not
able to contribute or transfer any savings into the Aon Stock Fund
(including employee contributions, Aon matching contributions, fund
transfers-in, loan repayments, and rollover
contributions).

Participants that contributed
to the fund will need to select a different investment option or
options. If the participant does not select a different investment
option, any amounts that would normally have been directed to the Aon
Stock Fund will be automatically re-directed to the applicable
age-appropriate target-date fund (assuming retirement at age 65) in the
plan.

On December 1, 2017, the Aon Stock Fund will be liquidated
and removed from the plan. As of December 31, 2016, the company stock
fund held a little more than $240,000,000 in plan assets.

In a statement to PLANADVISER, Aon said: “We have eliminated the option
to invest in the company’s stock to encourage greater diversification of
retirement savings. Colleagues will
reallocate their investment in the Aon Stock Fund into another, better
diversified, investment option within the 401k plan.”

The form also noted that on February 11, Aon announced an agreement to sell its benefits and HR platform
to Alight Solutions (formerly Tempo Acquisition, LLC, an entity formed
and controlled by the Blackstone Group L.P.). The sale closed in May
2017. Impacted employees’ Aon Savings Plan account balances will be
transferred to the new company’s plan, and they will cease participation
in Aon’s plan.